Although this book is on the Gann recommended reading list, this chapter contains
instructions on "averaging down," which run directly contrary to those of W. D. Gann and other market
professionals. Gann writes in his 1936 book New Stock Trend Detector:
"The price decline from 1929 to 1932 was so drastic because people who bought at high levels held on and
hoped and bought more to average on the way down. They were wrong at the they bought the first stock
and continued to be wrong by bucking the trend and buying more to average, the worst thing that any
trader can do. Remember, average your profits, but never average a loss." (p. 24, emphasis added)
NEW YORK STOCK EXCHANGE HOROSCOPE
May 17th 1792 @ 12 Non: New York city
S. T. Gr-noon 3-43-11
S. T. at birth 3-42-57
G. M. T. 5 P. M.
Adj. Calc. Date: March 2nd 1792
*******************************************************************
LONDON STOCK EXCHANGE HOROSCOPE
May 18th 1801 @ 12 Noon: London, Eng.
S. T. Gr-noon 3-42-15
S. T. at birth 3-42-57
G. M. T. 12 Noon
Adj. Calc. Date: May 18th 1801